Energy bill help for all is too expensive, warns the World Bank
The World Bank has warned that it’s too expensive for governments to help everyone with their soaring energy bills.
The bank’s president David Malpass said Covid support schemes had not been targeted enough towards the most vulnerable and the debt will take decades to pay off.
Malpass told the BBC the same policy was being adopted to help people cope with rising energy bills.
It is pushing global debt to record levels and people at the bottom of the income scale are hardest hit, he added.
Other research suggests the UK’s own energy support scheme is far too expensive in its current form.
The government is limiting average bills for all households to £2,500 a year for six months, but will review the support offered from April.